Presentation on theme: "Superior Financial Group"— Presentation transcript:
1 Superior Financial Group SBA Community Express Loan Program and Online Training
2 Table of Contents SFG SBA Community Express Loan Program Overview SFG Online Application ProcessSFG Real Time reporting SystemHow to get started
3 Why Choose SFG?Online Instant Pre-Qualification SBA CE loans from 5k to 25kReal-Time reporting of clients funding statusSince 2002 funded over 9000 SBA community express loans between Innovative bank and SFGSafe and Secure internet security protocolReceive $100 per funded loan
4 Who is Superior Financial Group (SFG)? SFG is one of 13 non-Bank licensed SBA Lender SBLC (small business lending company)Headquartered in Walnut Creek, CaliforniaCompany started in December 2005Combined over 35 years of lending experience to Small Office Home Office businesses.
5 BackgroundTim Jochner and Joe Kaplan have started 3 businesses together all catering to Small businesses.Sold Innovative Merchant Solutions in Oct 2003 to Intuit, Inc “INTU” the makers of QuickBooks and sold Innovative Bank to a private group in Jun 05 respectfullyBought the Bank of Oakland in 2001 and renamed it Innovative BankStarted the Innovative Bank SOHO SBA Community Express loan program in 2002Became a top five SBA lender in the first 12 months, and funded over 8000 loansResponsible for 90% of the SBA increase in number of loans during the 02, 03 and 04 fiscal years.
6 Business Practice Awards Arthur Anderson Award - Best Business Practice in Customer Satisfaction Ernst & Young Award - Entrepreneurs of the Year U.S. Chamber of Commerce Award - Blue Chip Enterprise U.S. Association for Small Business & Entrepreneurships - "Corporate Entrepreneur's of the Year" Entrepreneur Magazine - Ranking of #6 of the Hot 100 U.S. Businesses
7 What is SBA Community Express (CE) It falls under the SBA 7 (a) program like SBA ExpressTechnical Assistance by an approved technical assistance provider is requiredThe lender is allowed to use there own paper-work and credit decision process.Has an 85% government guarantee
8 SBA Community Express Eligibility Requirements Must not be a convicted felonMust not have defaulted on government backed student loansMust not have defaulted on child support paymentsMust not have any IRS judgments or tax liensCannot have over 100,000 cash or equivalents
9 SBA Community Express Program Online Pre-Qualification applicationPre-Qualification in secondsNo Collateral RequiredAffordable Monthly Principal and Interest PaymentsNo Balloon PaymentsNo Prepayment PenaltyQuick Source For Unsecured Working Capital
10 Superior Financial Group’s Community Express Loan Program Loan amounts from $5,000 - $25,000Interest rate of WSJ Prime Rate + 4.5%Start up businesses are OKMost legal, for profit businesses eligibleMost franchises eligibleEstablishes credit for your businessElectronic funding into your business checking account – no waiting for a check!Electronic loan payments from your checking account – no check writing or mailing!
11 Estimated Monthly Payments SMALL OFFICE/HOME OFFICE - Lower amounts best suited for smaller or newer businesses needing working capital. This program has less stringent personal credit requirements of the owners.Loan AmountApprx. Monthly PaymentPackaging/Processing FeeSBA Guaranty FeeInterest Rate$5,000$74$450Paid By SFGWSJ Prime +4.5%$7,500$110$127.50$10,000$147$170.00$12,500$183$212.50GROWTH ACCELERATOR ASSISTANCE PROGRAM - Larger amounts for more established businesses seeking a quick source for working capital. Due to the larger amounts this program has stricter credit requirements.$15,000$220$550$255.00$20,000$292$340.00$25,000$365$425.00Lower amounts best suited for smaller or newer businesses needing working capital. This program has less stringent personal credit requirements for the owners.
12 SFG Pre-Qual application Go toOn the Top Button Row of the Web-Site select Pre-Qual nowMust Have a User Name and Password to use the systemOnline Tutorial is available on the SFG Pre-Qual Screen
14 Click to see video tutorial Enter your assigned user name and password to get startedClick to see video tutorial
15 Enter the clients first and last name here to then click I authorize
16 This is the SBA 1919 form any “yes” questions is an automatic SBA disqualifier
17 Enter business information Make sure you select your TA office using the down arrowEnter products sold then click on find Industry codes button. This will automatically find the clients industry code.Enter business information
18 Enter Personal Information of the borrower Own or rent their home
19 Pre-Qual’s are only good for 14 days so complete and mail the paperwork ASAP Complete and have the client sign the original paperwork due to SBA rules we still require wet signatures and mail to this addressClick on the loan PDF link to download the paperwork
20 Superior Financial Groups Online Real-Time Reporting System Go toReview your Clients Status in Real-TimeDetailed Reports on Client StatusKnow when clients have been fundedSaves you Time and Money
21 To see your reports type in www.superiorfg.com/tap Use your assigned user name and password
22 The first screen is your general overview Select Loan Apps to get a more detailed reports
23 Click on the Report icon to see action items and client status
24 Status information is where you will find any ACTION items needed to fund your client’s loan, its very important to review this section!
25 How to get Started Complete and sign a TA agreement with SFG Submit your SBA TA approval letter with your SFG TA agreementYou will receive a user name and password which will allow you to access the Online reporting system and the pre-quail applicationYou will also receive a demo link on how to use the Pre-Qual applicationDonations are $100 per funded account and are paid monthly
26 Community Express Loan Technical Assistance Provider Plan
28 Choose type of technical assistance Community Express Loan Technical Assistance Provider Plan: Borrower’s ProcessApplicant is approved by Superior Financial Group for Community Express LoanCompleteOnlineRegistrationComplete Technical Assistance Needs AssessmentReview Technical Assistance Needs Assessment Report1234Choose type of technical assistanceWork with Certified CounselorTake Online Workshop5aOR5bComplete Action PlanReceive Completion Certificate6728
29 Borrower Completes Technical Assistance Registration The purpose of registration is to:Collect company and industry demographic informationCollect contact informationSet up login and passwordBorrower’s Assessment and Recommendations are customized to their Business Type.
30 Technical Assistance Needs Assessment Mockup Entire Assessment not shown
31 Technical Assistance Needs Assessment Report and Associated Online Workshop Content Prioritized by NeedsTechnical Assistance Needs Report:Borrower is directed to take Online Workshop, starting with content related to greatest needs areas – in this case, Financial Management content.Displays an overview of borrower’s scores for each categoryIndicates areas of greatest technical need31
32 Online Workshop: Course Features Each Chapter Includes:Multimedia presentation illustrating key chapter conceptsTable of Contents providing access to:All course chaptersBusiness Assessment CenterCourse Completion CertificateBusiness AssessmentVideos of well-known entrepreneurs discussing chapter topicWorksheets provided to facilitate implementation of course conceptsCourse takes several hours to complete
34 Community Express Loan Technical Assistance Tracker: Home Page, Counselor View Create, edit, and track Action Plan and counseling session notesTrack Client’s progress in Online WorkshopOne-click access to:Client’s completed worksheetsClient’s Technical Assistance Needs ReportClient’s Business Assessment Results from Online WorkshopAbility to set reminders and follow up when due dates are passed
35 Choose type of technical assistance Community Express Loan Technical Assistance Provider Plan: Borrower’s Process with Technical Assistance Tracker: Counselor ViewApplicant is approved by Superior Financial Group for Community Express LoanCompleteOnlineRegistrationComplete Technical Assistance Needs AssessmentReview Technical Assistance Needs Assessment Report1234Technical Assistance Tracker: Counselor View Tracks, audits, and reports on borrower’s activities at key points in the Technical Assistance processChoose type of technical assistanceWork with Certified CounselorTake Online Workshop5aOR5b4Complete Action PlanReceive Completion Certificate675b6735
36 Contact InformationSuperior Financial Group165 Lennon Lane Ste 101Walnut Creek, Ca 94598toll freephonefax